Can I retire at age 57 with 689,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$56,897$56,390$55,896$55,413$54,942$54,368
2 years$28,167$27,642$27,134$26,641$26,163$25,585
3 years$18,591$18,065$17,557$17,069$16,599$16,035
4 years$13,805$13,279$12,777$12,297$11,838$11,293
5 years$10,933$10,411$9,916$9,446$8,999$8,473
6 years$9,020$8,501$8,013$7,554$7,121$6,615
7 years$7,653$7,140$6,659$6,210$5,791$5,306
8 years$6,629$6,120$5,647$5,210$4,804$4,340
9 years$5,833$5,328$4,864$4,437$4,046$3,602
10 years$5,196$4,697$4,241$3,825$3,447$3,024
11 years$4,676$4,181$3,733$3,329$2,965$2,561
12 years$4,242$3,753$3,313$2,920$2,569$2,185
13 years$3,876$3,392$2,960$2,578$2,240$1,875
14 years$3,562$3,083$2,660$2,288$1,964$1,617
15 years$3,290$2,816$2,401$2,041$1,729$1,401
16 years$3,053$2,584$2,177$1,827$1,528$1,217
17 years$2,843$2,380$1,981$1,642$1,355$1,061
18 years$2,657$2,199$1,809$1,480$1,205$927
19 years$2,491$2,038$1,656$1,337$1,074$812
20 years$2,342$1,894$1,519$1,211$959$712
21 years$2,207$1,764$1,398$1,099$858$626
22 years$2,084$1,647$1,288$999$769$550
23 years$1,973$1,540$1,189$910$691$485
24 years$1,870$1,443$1,100$830$621$428
25 years$1,776$1,354$1,019$758$559$378
26 years$1,690$1,273$945$693$503$333
27 years$1,610$1,198$877$634$454$295
28 years$1,536$1,129$816$581$409$261
29 years$1,467$1,065$759$533$370$231
30 years$1,403$1,005$707$489$334$204
31 years$1,343$950$659$449$302$181
32 years$1,286$899$615$413$273$161
33 years$1,234$852$574$380$247$142
34 years$1,185$807$537$349$224$126
35 years$1,138$766$502$322$203$112
36 years$1,094$727$469$296$184$99
37 years$1,053$690$439$273$166$88
38 years$1,014$656$411$252$151$78
39 years$977$624$385$232$137$69
40 years$942$593$361$214$124$62
41 years$909$565$339$197$113$55
42 years$877$538$318$182$102$49
43 years$847$513$298$168$93$43
44 years$819$489$280$155$84$38
45 years$791$466$263$143$76$34
46 years$765$444$247$132$69$30
47 years$741$424$232$122$63$27
48 years$717$405$218$113$57$24
49 years$694$387$205$104$52$21
50 years$673$369$193$97$47$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $689,000, adding $6,000 every year, while hoping to spend $31,228 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 84/6/10 Blend
56$689,000$689,000$689,000$689,000
57$765,467$728,950$718,271$828,122
58$810,318$731,442$709,106$872,474
59$858,698$733,010$698,588$916,366
60$910,932$733,575$686,638$963,619
61$967,381$733,054$673,175$1,014,550
62$1,028,439$731,359$658,111$1,069,513
63$1,094,540$728,395$641,358$1,128,892
64$1,166,162$724,065$622,822$1,193,115
65$1,243,827$718,261$602,404$1,262,649
66$1,328,115$710,873$580,001$1,338,011
67$1,419,658$701,782$555,507$1,419,771
68$1,519,155$690,861$528,808$1,508,554
69$1,627,374$677,978$499,788$1,605,051
70$1,745,159$662,991$468,324$1,710,022
71$1,873,439$645,752$434,286$1,824,305
72$2,013,237$626,102$397,543$1,948,824
73$2,165,680$603,873$357,953$2,084,594
74$2,332,004$578,888$315,369$2,232,738
75$2,513,575$550,960$269,641$2,394,488
76$2,711,893$519,890$220,607$2,571,207
77$2,928,610$485,468$168,101$2,764,393
78$3,165,545$447,473$111,950$2,975,698
79$3,424,702$405,671$51,971$3,206,944
80$3,708,285$359,812$0$3,460,135
81$4,018,723$309,636$0$3,738,769
82$4,358,690$254,865$0$4,049,998
83$4,731,130$195,207$0$4,390,978
84$5,139,287$130,354$0$4,764,693
85$5,586,731$59,978$0$5,174,427
86$6,077,397$0$0$5,623,800
87$6,615,616$0$0$6,117,873
88$7,206,161$0$0$6,664,338
89$7,854,287$0$0$7,264,098
90$8,565,785$0$0$7,922,514
91$9,347,033$0$0$8,645,489
92$10,205,055$0$0$9,439,527
93$11,147,590$0$0$10,311,790
94$12,183,166$0$0$11,270,171
95$13,321,174$0$0$12,323,364
96$14,571,961$0$0$13,480,948
97$15,946,927$0$0$14,753,474
98$17,458,632$0$0$16,152,568
99$19,120,911$0$0$17,691,038
100$20,949,011$0$0$19,382,996